Outline the Major Demerits of Capitalism?

1.	Outline the Major Demerits of Capitalism?
Answer» 1. Concentration of Wealth and Income: Capitalism causes concentration of wealth and income in a few hands and thereby increases inequalities of income. 2. Wastage of Resources: Large amount of resources are wasted on competitive advertising and duplication of products. 3. Class Struggle: Capitalism leads to class struggle as it divides the society into capitalists and workers. 4. Business Cycle: Free market system leads to frequent violent economic fluctuations and crises. 5. Production of non essential goods: Even the harmful goods are produced if there is possibility to make profit.

Answer»

1. Concentration of Wealth and Income: Capitalism causes concentration of wealth and income in a few hands and thereby increases inequalities of income.

2. Wastage of Resources: Large amount of resources are wasted on competitive advertising and duplication of products.

3. Class Struggle: Capitalism leads to class struggle as it divides the society into capitalists and workers.

4. Business Cycle: Free market system leads to frequent violent economic fluctuations and crises.

5. Production of non essential goods: Even the harmful goods are produced if there is possibility to make profit.

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